Interview with Chairman, Larsen & Toubro

What about orders from the power sector?
Power is in a very bad situation and I have absolutely no comments to make, till all the government policies on fuel, land and power purchase agreements, are known. There are no international prospects for coal-based power plants. Nobody uses coal except India and China. We are working on how to utilise that capacity. We have established a centre in every business unit to make sure all emergency and urgent actions are taken to handle situations, and see what we can do. Someone can come up with more innovative ideas and we are always open.

Are you still bothered by the inflow of Chinese equipment into India?
There are no orders as such, neither for us nor the Chinese. I have been talking about this for a long time. Each power plant creates 25,000 jobs and we have given away more than 10 million jobs by giving orders to the Chinese companies. And, then there is talk about supporting them with subsidies!

What about your plans to set up power projects (as a developer)? You have bagged the 1,400 Mw Rajoura plant in Punjab. But we have not seen any additions to the portfolio.
Our own plans are in as good or bad a shape as others. I do have a desire to do more. The Punjab plant is under construction. Let us digest it first. Other states are talking to us, but there are worries about coal, land or water.